According to Zacks, “Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. “
SAR has been the topic of several other reports. LADENBURG THALM/SH SH downgraded shares of Saratoga Investment from a buy rating to a neutral rating and set a $24.00 price objective on the stock. in a research report on Friday, May 10th. They noted that the move was a valuation call. National Securities reiterated a neutral rating and issued a $24.00 price objective on shares of Saratoga Investment in a research report on Friday, May 17th. Finally, Compass Point downgraded shares of Saratoga Investment from a buy rating to a neutral rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.25.
Shares of NYSE:SAR opened at $24.57 on Thursday. The company has a market cap of $197.09 million, a P/E ratio of 9.34 and a beta of 0.64. The firm has a 50-day moving average price of $24.37. Saratoga Investment has a fifty-two week low of $18.60 and a fifty-two week high of $25.65.
Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Wednesday, July 10th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The firm had revenue of $12.75 million for the quarter, compared to the consensus estimate of $12.21 million. Saratoga Investment had a net margin of 44.66% and a return on equity of 10.75%. Sell-side analysts expect that Saratoga Investment will post 2.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.95%. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, June 12th. Saratoga Investment’s payout ratio is 83.65%.
Hedge funds have recently added to or reduced their stakes in the business. North Star Investment Management Corp. bought a new stake in shares of Saratoga Investment during the 1st quarter worth about $25,000. Macquarie Group Ltd. raised its position in shares of Saratoga Investment by 68.8% during the 4th quarter. Macquarie Group Ltd. now owns 1,939 shares of the financial services provider’s stock worth $39,000 after buying an additional 790 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Saratoga Investment during the 1st quarter worth about $198,000. Wiley BROS. Aintree Capital LLC bought a new stake in shares of Saratoga Investment during the 2nd quarter worth about $225,000. Finally, Private Portfolio Partners LLC bought a new stake in shares of Saratoga Investment during the 1st quarter worth about $311,000. Institutional investors own 16.66% of the company’s stock.
About Saratoga Investment
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.
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